S&P assigns HealthCare Partners loan BB

Standard & Poor's said it affirmed its BB counterparty credit rating on HealthCare Partners LLC.

The outlook is stable.

At the same time, S&P said it assigned its BB senior secured debt ratings to HealthCare Partners' proposed senior credit facilities consisting of a seven-year $280 million term loan due 2013 and five-year $15 million revolver due 2011.

The proceeds will be used to refinance its current term loan outstanding and partly finance its planned acquisition of JSA Holdings Inc., the agency noted.

S&P said that the rating on HealthCare Partners reflects its integrated operational relationship with HealthCare Partners Affiliates Medical Group, established competitive position, strong core earnings profile and adequate financial flexibility, adding that offsetting factors include geographic and client concentration, marginal balance sheet quality and its acquisition oriented growth strategy.

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